(Answered) Question - flounder company at december 31 2017 the end of

Accounting

Question - Flounder Company at December 31, 2017, the end of its first year of operations.

Sales revenue $282,670

Cost of goods sold 147,300

Selling and administrative expenses 49,900

Gain on sale of plant assets 28,660

Unrealized gain on available-for-sale investments 10,390

Interest expense 6,030

Loss on discontinued operations 11,260

Dividends declared and paid 5,190

Compute the following:

(a) Income from operations

(b) Net income

(d) Retained earnings balance at December 31, 2017.

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